University of Exeter Law School academics present to the All-Party Parliamentary Group on Pension Clawback

Dr David Barrett and Dr James Kolaczkowski presented their research on pension clawback to MPs at the All-Party Parliamentary Group on Pension Clawback (APPG) on Wednesday 26th October. Clawback (also known as state deduction) is the practice of pensioners having money deducted from their private pensions when they begin to receive the state pension.

Dr Barrett and Dr Kolaczkowski’s study focuses on pensions in the banking sector. The presentation discussed how policyholders had both limited awareness and understanding of clawback so that when they did understand it there was little or no time to take action to plan for it (for example by making greater pension contributions or saving separately). The presentation also explored the unequal impacts that clawback has on certain groups (particularly women and individuals with disabilities) with clawback constituting a much higher proportion of their pension.

Dr Barrett and Dr Kolaczkowski will now undertake further research exploring the extent clawback is present in pensions in other sectors and the degree of inequality for women, individuals with disabilities and people of colour. The outcomes of this research will be presented at a future APPG meeting.